Alpha Cubed Investments LLC lifted its position in Coca-Cola Co (The) (NYSE:KO) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,662 shares of the company’s stock after buying an additional 18,233 shares during the quarter. Coca-Cola comprises approximately 2.1% of Alpha Cubed Investments LLC’s holdings, making the stock its 12th biggest position. Alpha Cubed Investments LLC’s holdings in Coca-Cola were worth $22,348,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in KO. BlackRock Inc. boosted its position in Coca-Cola by 6.7% during the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after purchasing an additional 18,701,930 shares during the period. Capital World Investors boosted its position in Coca-Cola by 17.8% during the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after purchasing an additional 5,792,057 shares during the period. Advisor Group Holdings Inc. bought a new position in Coca-Cola during the first quarter worth $47,894,000. APG Asset Management N.V. boosted its position in Coca-Cola by 39.7% during the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock worth $557,173,000 after purchasing an additional 3,580,852 shares during the period. Finally, State Street Corp boosted its position in Coca-Cola by 1.0% during the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock worth $8,185,610,000 after purchasing an additional 1,787,004 shares during the period. 65.86% of the stock is owned by hedge funds and other institutional investors.
In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of Coca-Cola stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $48.50, for a total value of $4,796,892.50. Following the transaction, the director now owns 355,214 shares in the company, valued at $17,227,879. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Edward Long sold 37,534 shares of Coca-Cola stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total value of $1,809,514.14. Following the completion of the transaction, the senior vice president now owns 82,502 shares in the company, valued at approximately $3,977,421.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 836,439 shares of company stock valued at $40,380,407. 1.01% of the stock is owned by insiders.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. Coca-Cola’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, analysts anticipate that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.
A number of equities analysts have commented on the stock. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research report on Friday, July 17th. Finally, Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.19.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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